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AST BlackRock Value Portfolio - Prudential Annuities

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<strong>AST</strong> PRESERVATION ASSET ALLOCATION PORTFOLIO<br />

Year Ended December 31,<br />

2011(c) 2010(c) 2009(c) 2008(c) 2007(c)<br />

Per Share Operating Performance:<br />

Net Asset <strong>Value</strong>, beginning of year $11.75 $10.78 $9.10 $11.78 $10.84<br />

Income (Loss) From Investment Operations:<br />

Net investment income 0.16 0.13 0.27 0.24 0.22<br />

Net realized and unrealized gain (loss) on investments (0.04) 1.00 1.54 (2.47) 0.75<br />

Total from investment operations 0.12 1.13 1.81 (2.23) 0.97<br />

Less Distributions: (0.11) (0.16) (0.13) (0.45) (0.03)<br />

Net Asset <strong>Value</strong>, end of year $11.76 $11.75 $10.78 $9.10 $11.78<br />

Total Return(a) 0.99% 10.57% 20.04% (19.55)% 8.91%<br />

Ratios/Supplemental Data:<br />

Net assets, end of year (in millions) $5,854.6 $5,299.9 $3,666.5 $1,340.8 $714.4<br />

Ratios to average net assets(b):<br />

Expenses After Waivers and/or Expense Reimbursement 0.16% 0.17% 0.17% 0.17% 0.18%<br />

Expenses Before Waivers and/or Expense Reimbursement 0.16% 0.17% 0.17% 0.17% 0.18%<br />

Net investment income 1.34% 1.13% 2.71% 2.29% 1.95%<br />

<strong>Portfolio</strong> turnover rate 58% 24% 21% 58% 67%<br />

(a) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of distributions and does not<br />

reflect the effect of insurance contract charges. Total return does not reflect expenses associated with the separate account such as administrative fees, account charges and surrender<br />

charges which, if reflected, would reduce the total return for all periods shown. Performance figures may reflect voluntary fee waivers and/or expense reimbursements. In the absence<br />

of voluntary fee waivers and/or expense reimbursements, the total return would be lower. Past performance is no guarantee of future results. Total returns may reflect adjustments to<br />

conform to generally accepted accounting principles.<br />

(b) Does not include expenses of the underlying portfolios in which the <strong>Portfolio</strong> invests.<br />

(c) Calculated based on average shares outstanding during the year.<br />

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